Dardan Gashi

Working Papers:

"Managerial Beliefs and Agency Conflicts" [PDF] [SSRN]
Executive compensation contracts optimally accommodate managerial beliefs, thereby preserving shareholder value. 
This rationalizes the persistence of behavioral biases among top executives in equilibrium.

Presentations: EFA Doctoral Tutorial 2026, COAP Luxembourg, FMARC Doctoral Tutorial 2026, SFI Research Days 2026, 42nd AFFI, 2nd HKU Next-Gen Finance, USC Marshall, SFI USI Lugano

"Subjective Beliefs and the Q-theory of Investment" [PDF] [SSRN]
The disconnection between investment and valuation widens after considering the disagreement between investors and managers.
The model implies higher market power to reconcile the evidence.

Presentations: AFA 2026 (poster), SFI Research Days 2025, USC Marshall PhD meeting, SFI USI Lugano